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Wednesday, 11 August 10
CAPESIZE MARKET ON RECOVERY MODE
 The dry bulk market, usually dormant in August, has returned on a high note this week, after last week’s gains. Monday proved to be rather buoyant with the industry’s main benchmark, the Baltic Dry Index (BDI) rising by a more than impressive 4.14 percent, or 84 points, to 2,114 points, mainly as a result of renewed capesize cargo demand. The relative Baltic Capesize Index (BCI) jumped by 13.26 percent, with average daily earnings now standing at $21,298 a day, up from this year’s lows of under $10,000 a day, noted a few weeks ago. As a result, the capesize segment has once again returned to normal, standing above the panamax market. According to Jeffrey Landsberg, senior analyst with Commodore Research & Consultancy, spot Indian iron ore with a 63.5% iron content is now selling for approximately $135/ton FOB, an increase of $9 (7%) from just a few days ago. The rapid increase in price reflects the impact of the Kamataka iron ore ban, as well as moderate demand from China. In addition, four fixtures were reported Monday to load cargo from the US Gulf, a large amount for a single day of chartering activity. Two of the fixtures were specifically designated to export wheat to Europe. Going forward, European wheat importers are likely to purchase more wheat from the United States in order to compensate for the Russian wheat export ban which will begin on August 15”, Landsberg said.
In a separate analysis, the latest weekly report from Barry Rogliano Salles (BRS), said that capesize rates posted another double digit increase this wek. “West Australia to China rose above US$7.50, while Brazil-China was being done at index levels. In the paper market, 4Q 2010 put on around US$800 Friday to Friday to reach US$29,000/day. Overall owners were more upbeat at the end of the week and a 290 point jump in the BCI on Monday confirmed the new more positive outlook. With the time charter average finishing the week at US$18,400, Cape earnings are finally back above the Supramaxes, though not yet above the Panamaxes” the broker said.
Meanwhile, Commodore’s report mentioned that dry bulk cargo demand increased moderately last week, with ore fixtures witnessing a significant increase. A larger amount of capesize vessels were chartered to haul iron ore from Australia and Brazil partially due to the ongoing export ban in Kamataka India. 23 iron ore fixtures were reported, an increase from only 13 iron ore fixtures reported during the previous week. 17 of last week’s iron ore fixtures were for capesize vessels, an increase from 10 capesize ore fixtures reported during the previous week. The overall amount of iron ore fixtures increased dramatically, however, and with spot ore prices continuing to rise and Chinese iron ore port stockpiles down from a week ago, Chinese iron ore demand appears firm. Stockpiles of iron ore at Chinese ports are still at near record levels, though, and Chinese steel prices have not increased by a large enough amount yet to warrant great optimism.
Asian thermal coal demand remains strong but has cooled from more robust levels of demand seen earlier this summer. Grain demand remains firm but fixtures loading grain from South America have declined noticeably from a week ago. Russian wheat exports will likely be banned in the upcoming weeks. American wheat exports from the US Gulf already appear to be on the rise. Market sentiment remains relatively firm evident by the moderate amount of period deals continuing to be conducted in the market. Most of the period deals have been completed for periods between three to six months” Commodore said.
Commenting, on the state of the iron ore market after Kamataka’s ban, it said that Chinese iron ore buyers have already started to purchase a larger amount of Brazilian and Australian iron ore which is lending support to capesize freight rates. Indian iron ore is normally exported with panamax and supramax vessels (due to draft limitations that restrict capesize vessels from loading at many Indian ports). A prolonged export ban will likely reduce the amount of panamax and supramax vessels that are chartered to haul ore from India, and will likely lead to an increase in Capes chartered to haul ore from Australia and Brazil. If more ore is exported from Brazil, which is likely if the ban remains intact, capesize freight rates would receive additional support due to the longhaul nature of Brazil-China seaborne trade.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 03 August 12
INDIA - LIGHTS OUT! - SALVA
The Indian power sector hit global headlines this week for all the wrong reasons. Firstly, on Monday, over 350 million people lost power across nort ...
Thursday, 02 August 12
OIL & GAS COMPANIES TO MEET IN MYANMAR FOR UPDATES ON NEW ROUND OF BIDDING AND INVESTMENT POTENTIAL IN UPSTREAM OIL, GAS, AND POWER GENERATION
Press Release - 2nd MOGP Summit (Myanmar Oil, Gas & Power) will convene in Yangon from 3 – 6 September 2012, to unveil new round of biddin ...
Thursday, 02 August 12
DRY BULK MARKET RATES CONTINUE SLUMP AMID SLOWER DEMAND NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on its downward path Wednesday, as the BDI (Baltic Dry Index) kept retreating to new lows. The index was down by 2.12 perce ...
Monday, 30 July 12
DRY BULK MARKET TO REMAIN UNDER PRESSURE FOR THE REST OF 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In an interview with Hellenic Shipping News Worldwide, Mr. Yannis Pachoulis, President of the Hellenic Shipbrokers' Association, remains cautiously ...
Sunday, 29 July 12
FREIGHT MARKET MOMENTUM CONTINUES TO WEAK
COALspot.com - The freight market continued to soft this week with all the segments dropped and the BDI fell below 1,000 points and closed at 933 po ...
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- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- The University of Queensland
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Aditya Birla Group - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
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